How much was lost in the PulldogSwap hack?

The PulldogSwap hack resulted in $11K in losses on March 16, 2021.

What attack technique was used in the PulldogSwap exploit?

The PulldogSwap exploit utilized Honeypot. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

PulldogSwap Hack

TOTAL LOST $11K

Low Mar 16, 2021 Honeypot binance

Affected Chain binance Incident surface

Recovered - No recovery reported

All-Time Rank #1938 By amount stolen

Protocol Type Exit Scam/Honeypot Target category

Incident Overview

The contract owner could disable the transfer function, which restricted users in selling their tokens.

The contract deployer transferred part of the tokens to some external wallets at:

https://bscscan.com/tx/0x89e44f27…0b5f2a

https://bscscan.com/tx/0x4795f3ea…63af3c

https://bscscan.com/tx/0x602b2529…97c371

One of these wallets added initial liquidity at:

https://bscscan.com/tx/0x9622893c…6d508f

The liquidity was removed by the external wallet at:

https://bscscan.com/tx/0x12446a0d…2a2a32

Incident Report

Protocol / Project PulldogSwap

Date of Incident March 16, 2021

Affected Chain(s) binance

Attack Technique Honeypot

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Honeypot

Affected Token PUS

Official Website pulldogswap.finance/#/swap

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of honeypot and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with binance smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in PulldogSwap's contract logic - root cause: token

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Honeypot audit checklist and test coverage

If you're auditing a protocol with similar architecture to PulldogSwap, these are the critical security checks that could have prevented this incident (March 2021).

Verify all logic paths related to Honeypot are guarded by proper access controls and input validation
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Sources & References

01
Source 1 https://twitter.com/RugSteemer/status/1369566460016697344
02
Web Archive https://archive.ph/2rogX

Threat Assessment

Severity Level

LOW

Attack Vector Honeypot
Root Cause Token
Year 2021

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